First petrochemical symposium to attract multi-billion dollars’ investment
Pakistan’s first petrochemical symposium will take place on Thursday at a local hotel in Islamabad to initiate a conversation and spark interest in Pakistan’s petrochemical industry to attract multi-billion dollars investment.
The Overseas Investors Chamber of Commerce and Industries, Board of Investment, Pakistan Business Council, and Pakistan Chemical Manufacturers Association are supporting the event, which is being organized by the Corporate Pakistan Group and Association of Certified Chartered Accountants with the support of the Overseas Investors Chamber of Commerce and Industries, Board of Investment, Pakistan Business Council, and Pakistan Chemical Manufacturers Association.
The symposium’s goal is to initiate a conversation and spark interest in Pakistan’s petrochemical industry. The day’s schedule includes a panel of specialists, including policymakers and corporate sector executives, who will discuss the petrochemical industry’s prospects and how it may help Pakistan achieve exponential economic growth.
Azfar Ahsan, Chairman of the Board of Investment and Minister of State, and Ghias Khan, President of the Overseas Investors Chamber of Commerce and Industry, will open the conference by discussing Pakistan’s enormous petrochemical potential.
Engro Polymer increases PVC prices again
Following this, the Korean Ambassador, Suh Sangpyo, will share Korea’s success and lessons for Pakistan in promoting petrochemicals as a catalyst for mega-industrialization.
Federal Ministers Hammad Azhar, Shaukat Tarin, and Asad Umar, among others, will talk about a range of topics, including investment and economic growth, as well as petrochemicals as a game-changer for Pakistan.
Sima Kamil, the State Bank of Pakistan’s Deputy Governor, will speak at a session on ‘Enabling investments in petrochemicals,’ while Khalid Mansoor, the Prime Minister’s Special Assistant on CPEC Affairs, will discuss the framework required for petrochemical investments.
The situation calls for immediate action.
Pakistan’s petrochemical industry needs immediate attention. Currently, the country relies heavily on petrochemical imports for raw materials for more than 20 industries, including food packaging, automobiles, appliances, construction, paints, and medicines.
As a result, Pakistan’s thriving petrochemical industry will be critical in achieving import substitution, promoting export-led growth, and achieving its goal of becoming an industrialized nation.
Pakistan is at a disadvantage because of its underdeveloped petrochemical industry, which accounts for 5% of the country’s entire import bill. However, this industry presents huge investment prospects to help Pakistan achieve long-term economic prosperity.
The conference will discuss the need for a comprehensive policy framework for Pakistan’s petrochemical industry, from investment potential to long-term economic growth.
